Magna Upgraded To Outperform
We have upgraded our long-term recommendation on Magna International Inc. (NYSE:MGA) to Outperform from Neutral. The company is likely to reap benefits from the new emission standard in the U.S., which will boost demand for new auto parts and other components. The company’s first quarter 2012 earnings per share of $1.46, surpassed the Zacks Consensus [...]
We have upgraded our long-term recommendation on Magna International Inc. (NYSE:MGA) to Outperform from Neutral. The company is likely to reap benefits from the new emission standard in the U.S., which will boost demand for new auto parts and other components.
The company’s first quarter 2012 earnings per share of $1.46, surpassed the Zacks Consensus Estimate and a year-ago earnings of $1.30 by 12%. The earnings escalated owing to higher production and sales volumes along with profits generated … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards